This is my strategy report on Clear Channel. Their raise to industry juggernaut just as the industry began its decline is sign of Clear Channel’s lack of creativity and vision.
Profile
Clear Channel Communication was founded in 1972 in Texas with one radio station. From there it slowly began to grow acquiring new stations across the country. As the government deregulated the medium, allowing campaigns to own more and more stations in one city, Clear Channel grew and grew until in the 1990’s they pretty much controlled radio advertising.
Radio itself began to change a lot in the 1990’s as CD players gave drivers and listens far superior sound quality then radio and no commercials. Clear Channel responded with more Ads played per hour, squeezing every dollar they can from their media.
Competitive Landscape
Radio’s competitive landscape is shaped by
∙ Radio is decreasing in importance and popularity to society.
∙ Clear Channel maintains it dominance of a dying medium.
Clear Channels Strategy
Clear Channels Strategy is to diversify; they have heavily invested in Clear Channel Outdoors which does billboards and such. In 2003 they began make their radio towers available for rent from third parties like cell phones and internet service providers. Live Nation and a number of televisions stations used to be owned by Clear Channel but have been sold off. It is no longer the media power house with a virtually monopoly on radio advertising.
This is my strategy report on Clear Channel. Their raise to industry juggernaut just as the industry began its decline is sign of Clear Channel’s lack of creativity and vision.
Profile
Clear Channel Communication was founded in 1972 in Texas with one radio station. From there it slowly began to grow acquiring new stations across the country. As the government deregulated the medium, allowing campaigns to own more and more stations in one city, Clear Channel grew and grew until in the 1990’s they pretty much controlled radio advertising.
Radio itself began to change a lot in the 1990’s as CD players gave drivers and listens far superior sound quality then radio and no commercials. Clear Channel responded with more Ads played per hour, squeezing every dollar they can from their media.
Competitive Landscape
Radio’s competitive landscape is shaped by
∙ Radio is decreasing in importance and popularity to society.
∙ Clear Channel maintains it dominance of a dying medium.
Clear Channels Strategy
Clear Channels Strategy is to diversify; they have heavily invested in Clear Channel Outdoors which does billboards and such. In 2003 they began make their radio towers available for rent from third parties like cell phones and internet service providers. Live Nation and a number of televisions stations used to be owned by Clear Channel but have been sold off. It is no longer the media power house with a virtually monopoly on radio advertising.